Seven South Korean Companies Agree to Pay Approximately $3.1 Million to Settle Civil False Claims Act Allegations for Bid Rigging on U.S. Department of Defense Contracts

Seven South Korea-based companies have agreed to pay $3.1 million to resolve allegations they violated the False Claims Act by engaging in a bid-rigging conspiracy that targeted U.S. Army Corps of Engineers (USACE) contracts for construction and engineering work on U.S. military bases in South Korea. The seven companies are Korea Engineering Consultants Corporation; Yul Lim Construction Co. Ltd.; Shin Woo Construction & Industrial Co. Ltd.; Seongbo Const. Ind. Co. Ltd.; Wooseok Construction Co. Ltd.; Yuil Engineering and Construction Co.; and Seokwang Development Co. Ltd. The companies have agreed to each pay an equal share of the settlement amount. read more »

How a Trash-Talking Crypto Bro Caused a $40 Billion Crash

NEW YORK TIMES

Kwon, a South Korean entrepreneur, hyped the Luna and TerraUSD cryptocurrencies. Their failures have devastated some traders, though not the investment firms that cashed out early. read more »

Tesla removed from S&P 500 ESG index on autopilot, discrimination concerns

REUTERS

S&P Dow Jones Indices has removed electric carmaker Tesla Inc (TSLA.O) from its widely-followed S&P 500 ESG Index, (.SPXESUP) citing issues including racial discrimination claims against the company and its handling of a government investigation after crashes linked to its autopilot vehicles. read more »